Building Details

Building Size 5,643 SF

Year Built 1975

Tenancy Multi

Listing Agency: Keller Williams Legacy Group Realty

Listed By: Olivia L Christie · License #2016000685 Show Phone

Source: Lifestagesrealty

Added: Sep 22 Changed: Oct 26 Last Checked: Oct 26 at 4:02PM

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Investment Insights

Based on property information with market context.

Built in 1975, this apartment property contains six units, each with two bedrooms and one full bathroom. Four units have private balconies. Shared amenities include coin-operated laundry and off-street parking.

The complex is 100% occupied by long-term tenants.

Key Highlights

• Six apartment units, each with 2 bedrooms and 1 full bathroom
• 100% occupied by long‑term tenants
• Private balconies at 4 of the 6 units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,341

Cap Rate

8.27%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$826,820 $826.8K

Cap Rate 7%

$590,586 $590.6K

Cap Rate 9%

$459,344 $459.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,643 SF

Gross rent

$81.3K $14.40/SF

− Vacancy

−$6.1K −$1.08/SF

EGI

$75.2K $13.32/SF

− OpEx

−$33.8K −$5.99/SF

NOI

$41.3K $7.33/SF

Area

Tuscarawas County, OH

Vacancy

7.50%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$826,820

Cap Rate 7%

$590,586

Cap Rate 9%

$459,344

Alternative Uses

Best Use

Apartment 5plus

$590.6K

$516.8K – $689.0K (±1% cap)

NOI $41,341 @ 7.0% cap · market cap 8.27%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.05M

$920.1K – $1.23M (±1% cap)

NOI $73,610 @ 7.0% cap · market cap 14.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

6

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Explore this area Business Placement

Demographics for 44612, OH

5,443

Population

2,296

Households

2.4

Avg Household Size

44

Median Age

31%

College-Educated

95%

High-School Grad

26.5 sq mi

ZIP Area

205

Density / Sq Mi

$84,632

Median Household Income

$43,817

Median Earnings

$792

Median Rent

$244,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Coin-operated laundry and off-street parking support the property’s residential configuration.

Where is this apartment building located?

The property is located at 10188 Hess Mill Road NE Bolivar, OH.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Six apartment units, each with 2 bedrooms and 1 full bathroom; 100% occupied by long‑term tenants; Private balconies at 4 of the 6 units